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Pengrowth Energy Corporation Message Board

  • tax1099nc tax1099nc Apr 28, 2013 9:03 AM Flag

    Short Covering

    I suspect that the smart shorts are closing out positions. Too much risk of a hard move upside with earnings in 1qrt and 2qrt 2013. Keystone approval and the fact we are near a 52 week low and also ten year low. good earnings and approval of keystone will pushes this back to 7.00 plus a share. They might even have enough free cash flow later this year to raise the div .01 a month. THAT would send us over 7.50 a share as a reversal of cutting the div. I think that having a stable payout is far greater then paying out 85% of cash flow like a REIT, You take too much working capital out and when things dip you cut capex and the div. Prefer a low payout with a annual one time special payout for truly excessive cash. I wish I had picked up another 1,000 shares when we were at 4.50. Oh some one is absolutely dumping shares at certain support levels or pure technical trading.

    Sentiment: Strong Buy

1.77-0.13(-6.84%)Jun 24 4:02 PMEDT